Daily Progress, Jacksonville, TX

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December 27, 2012

Lon Morris stripped of accreditation

School can appeal

(Continued)

JACKSONVILLE —

If LMC does appeal, the college will be classified as a "Accredited Institution On Warning," until the follow-up hearing.

The SACSCOC is the regional body charged with the accreditation of degree-granting higher education institutions in southern states such as Texas.

In other Lon Morris matters, Judge Bill Parker of the U.S. Bankruptcy Court for the Eastern District of Texas on Dec. 23 formally approved the $137,000 settlement agreement that was pending between Lon Morris College and the United Methodist Higher Education Foundation.

Parker did so after reviewing the paperwork to make sure the language in the arrangement did not restrict the actions of the UMHEF in future endowment endeavors. The agreement is expected to pay $130,000 in back wages to furloughed LMC employees and $7,000 to the LMC bankruptcy estate.

In return, Dawn Ragan, chief restructuring officer of the Lon Morris bankruptcy estate, was ordered by Parker to waive any claims LMC may have against the UMHEF in general or specifically, against its $1 million restricted endowment fund, which will number at roughly $900,000 after this payout.

Ragan is the party authorized by the judge to disburse the funds to former LMC employees.

 

 

 

 

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